NYT: Corzine used leverage to keep regulators from investigating MF Global

posted at 12:10 pm on November 4, 2011 by Ed Morrissey

I considered adding this to my earlier post about Jon Corzine and Barack Obama, but both the story and its source deserves attention all on its own.  The New York Times reports today that Corzine pushed regulators away from a rule change that would have exposed MF Global’s risky and perhaps illegal business practices:

Months before MF Global teetered on the brink, federal regulators were seeking to rein in the types of risky trades that contributed to the firm’s collapse. But they faced opposition from an influential opponent: Jon S. Corzine, the head of the then little-known brokerage firm.

As a former United States senator and a former governor of New Jersey, as well as the leader ofGoldman Sachs in the 1990s, Mr. Corzine carried significant weight in the worlds of Washington and Wall Street. While other financial firms employed teams of lobbyists to fight the new regulation, MF Global’s chief executive in meetings over the last year personally pressed regulators to halt their plans.

How did Corzine manage that?  It was apparently between the Democrats in the regulatory state:

Leading the government’s effort to curtail these arcane practices was Gary Gensler, the chairman of C.F.T.C., who had worked for Mr. Corzine at Goldman Sachs. Mr. Gensler pushed for the proposed change in October 2010, and planned to bring it to a vote this summer. …

Mr. Corzine’s efforts culminated on July 20, as the agency was preparing for a vote on the proposal. That day, MF Global executives were on four different calls with the agency’s staff. Mr. Corzine himself was on two of those calls.

One of the calls was with Mr. Gensler. Both men are active Democrats, and served on financial panels together recently.

Shortly after the calls, Mr. Gensler, aware that he lacked the support to push the vote through, decided to delay the proposal indefinitely. He did so at the urging of Republican commissioners, according to people familiar with the matter.

Lehman Brothers actually pushed for the existing rule in 2005, which had the unintended effect of allowing firms to use repurchase agreements to hide losses in the short term.  That’s how Lehman’s collapsing financial state escaped notice for as long as it did, as they hid billions in losses.  That is why Gensler proposed the rule in the first place, but Corzine insisted that the rule change wouldn’t actually do anything for greater transparency on compliance.

Mona Charen notes that this makes Barack Obama’s attack on Republicans look more like a case of projection:

That’s Obama’s caricature of Republicans, whereas under his enlightened leadership, those selfish malefactors are under strict regulatory control. Note then today’s NY Times story (sorry I’m on train and insert link) saying that when regulators were looking askance at MF Global, the influence  of Jon Corzine, Democratic poobah, was sufficient to call them off. So much for the regulatory state. Combine this with Solyndra and you get regulation and corruption to spare!

Hey, it’s not as if Corzine didn’t earn his influence in Washington.  He got it the old-fashioned way … he bought it.  Unfortunately for Democrats, we all still have the receipts.

Breaking on Hot Air

Blowback

Note from Hot Air management: This section is for comments from Hot Air's community of registered readers. Please don't assume that Hot Air management agrees with or otherwise endorses any particular comment just because we let it stand. A reminder: Anyone who fails to comply with our terms of use may lose their posting privilege.

Trackbacks/Pings

Trackback URL

Comments

MFGate.

Just for you, crr6.

BobMbx on November 4, 2011 at 12:14 PM

MF Global did more than mislead investors. The company admitted that it diverted funds from “segregated” customer accounts, which has now drawn the interest of the FBI:
Whoa! Now that is some serious down twinkles right there.

MikeA on November 4, 2011 at 12:04 PM
Is that covered by the FDIC?

What if it is not covered by the FDIC?

/Clue: Embezzlement is NOT covered by the FDIC

So? Every depositor in a checking account? Is what?

Obama-sized.

Key West Reader on November 4, 2011 at 12:07 PM

MF Global did more than mislead investors. The company admitted that it diverted funds from “segregated” customer accounts, which has now drawn the interest of the FBI:
Whoa! Now that is some serious down twinkles right there.

MikeA on November 4, 2011 at 12:04 PM
Also, when can we look for “segregated customers” to be defined in a legal sense? Government Aid recipients perhaps?

Key West Reader on November 4, 2011 at 12:09 PM

This isn’t a Friday Document Dump.

This is an open, in-your-face admission and declaration.

Key West Reader on November 4, 2011 at 12:13 PM

Key West Reader on November 4, 2011 at 12:14 PM

Great caption, great picture, Ed!

Schadenfreude on November 4, 2011 at 12:16 PM

The NYT will happily throw Corzine under the bus to save Bammy’s bacon.

Bammy is always and forever the hill to die on.

Bat Chain Puller on November 4, 2011 at 12:16 PM

I don’t think we should underestimate the power of the Marxist movement headed by Obama.

I think we should all take a breath. Take a time out. This is “in-your face” Obama.

Remember what he said about “in your face”? He wasn’t kidding.

Boy Scouts.

Key West Reader on November 4, 2011 at 12:16 PM

Corzine cell next to Madoff one?

Schadenfreude on November 4, 2011 at 12:17 PM

Saw this on CNN this morning. Do I need to tell you they NEVER mentioned his party affiliation?

CurtZHP on November 4, 2011 at 12:17 PM

Sadly the OWSers are too dumb, stoned or obtuse to grasp and connect all this…or their handlers, Obama in charge, will deflect it all and make the Rs be ‘guilty’.

Schadenfreude on November 4, 2011 at 12:19 PM

The depth of the Obama Administrations corruption will someday be unearthed, and will put Daley Corruption of Chicago to shame.

portlandon on November 4, 2011 at 12:19 PM

“Both men are active Democrats, and served on financial panels together recently.”

I think I’ve found the problem here…

Seven Percent Solution on November 4, 2011 at 12:21 PM

Mr. Corzine’s resignation signals the end of a troubled chapter in his career. The former head of Goldman Sachs, Mr. Corzine joined MF Global in March 2010 following a failed re-election bid for New Jersey governor.

NYTs, you swine, that would be “Demorat NJ governor”.

NO way would they leave it out if it were a R.

Schadenfreude on November 4, 2011 at 12:21 PM

Corzine cell next to Madoff one?

Schadenfreude on November 4, 2011 at 12:17 PM

That’s not going to happen. Don’t you see what is in front of your own eyes? I don’t care if you “respect” me on this blog. You seem to elevate yourself above others so if that’s your gig, good on you.

Obama is directly tied to Corzine. Corzine is directly tied to Obama. OBAMA gave a “green loan” to Corzine. Corzine took hundreds of millions of dollars and now declares bankruptcy.

I want to see the books.

And stop being so uppity. You ain’t all that. Sistah.

Key West Reader on November 4, 2011 at 12:22 PM

Corzine cell next to Madoff one?

Schadenfreude on November 4, 2011 at 12:17 PM

With Obama pushing the library cart?

“Newspaper…magazine…..newspaper…magazine?”

BobMbx on November 4, 2011 at 12:22 PM

Corzine really needs some shiny bracelets for Christmas.

Rovin on November 4, 2011 at 12:23 PM

Hmmm, I thought all regulations were bad!

I mean Jon Corzine was protesting against a new regulation. Don’t conservatives do that everyday?

rightistliberal on November 4, 2011 at 12:24 PM

The depth of the Obama Administrations corruption will someday be unearthed, and will put Daley Corruption of Chicago to shame.

portlandon on November 4, 2011 at 12:19 PM

It needs to be stopped NOW. Not a year from now, not three weeks from now. It needs to be stopped. Now.

Key West Reader on November 4, 2011 at 12:24 PM

Let’s face it folks, they are all crooks. Pelosi’s non-answer to a direct question yesterday is just more proof. Does anyone remember Pre. Nixon, “the people have a right to know if their Pres. is a crook.”

rjoco1 on November 4, 2011 at 12:25 PM

The story can’t be true – the proof is right in the article:

Gary Gensler, the chairman of C.F.T.C., who had worked for Mr. Corzine at Goldman Sachs…. Both men are active Democrats

/

Hiya Ciska on November 4, 2011 at 12:25 PM

Hmmm, I thought all regulations were bad!

I mean Jon Corzine was protesting against a new regulation. Don’t conservatives do that everyday?

rightistliberal on November 4, 2011 at 12:24 PM

I like some regulations, like drug testing for welfare moochers. Photo ID at the voting booth is another one.

There’s a whole bunch I can get behind.

BobMbx on November 4, 2011 at 12:26 PM

The only surprise here is the NYT reporting it.

TimBuk3 on November 4, 2011 at 12:26 PM

Liking this a lot.Wonder if there will be a domino effect run on other brokerage firms by investors not quite sure if their funds have also been comingled. Sunlight is good.

a capella on November 4, 2011 at 12:26 PM

That photo will be coming to an RNC ad near you.

Bishop on November 4, 2011 at 12:26 PM

Wonder how much money bho got from this for his re-election? Gads, one would think that with all the krap bho and team have their slimy hands in, something would stick to get the whole blooming crooked bunch in jail!
L

letget on November 4, 2011 at 12:27 PM

I like some regulations, like drug testing for welfare moochers. Photo ID at the voting booth is another one.

There’s a whole bunch I can get behind.

BobMbx on November 4, 2011 at 12:26 PM

Okay…but would you like more regulation for Wall Street?

rightistliberal on November 4, 2011 at 12:30 PM

Have to give Corzine some credit for that haircut though. Nothing says “cool, hip liberal” like a chrome dome with bushy sides and long in back.

Bishop on November 4, 2011 at 12:30 PM

With Obama pushing the library cart?

“Newspaper…magazine…..newspaper…magazine?”

BobMbx on November 4, 2011 at 12:22 PM

Coke? Meth? Marx? Place your orders. Oh, a book? You actually want a book? Well, lemme give you one of mah books. /Obama

Good Lord on High. We are going to make it. I know it.

Key West Reader on November 4, 2011 at 12:30 PM

The ads write themselves:

Corzine, Other MFers Lost $600m

MFers linked to Obama, lose $600m

John_Locke on November 4, 2011 at 12:31 PM

Key West Reader on November 4, 2011 at 12:22 PM

You’ve got something untoward in yer coffee this a.m.

I’m not a “sistah” and I’m not “uppity”.

I’m totally with you on all you wrote about the incestuous relationship and crookery. Obama gets away with all. He’s the biggest charlatan in the American political history. Corzine was one of his first supporters/aids. They take good care of each other, in the process getting rich and ripping off clients and taxpayers.

Too bad the OWS are so obtuse and lost to make the connection. Were it not so tragic it w/b almost fun to observe.

Schadenfreude on November 4, 2011 at 12:31 PM

Have to give Corzine some credit for that haircut though. Nothing says “cool, hip liberal” like a chrome dome with bushy sides and long in back.

Bishop on November 4, 2011 at 12:30 PM

Err. Grayson is running. What’s the temp in Orlando these days? Any takers?

Key West Reader on November 4, 2011 at 12:32 PM

BobMbx on November 4, 2011 at 12:26 PM

Those are racist regulations. Good regulations are those which make rich people give away everything they own to bongo-playing dropouts.

Bishop on November 4, 2011 at 12:32 PM

It needs to be stopped NOW. Not a year from now, not three weeks from now. It needs to be stopped. Now.

Key West Reader on November 4, 2011 at 12:24 PM

Agreed. And if the R’s don’t get up TODAY and start screaming about it I’m gonna puke!

VegasRick on November 4, 2011 at 12:33 PM

Hmmm, I thought all regulations were bad!

I mean Jon Corzine was protesting against a new regulation. Don’t conservatives do that everyday?

rightistliberal on November 4, 2011 at 12:24 PM

Moron, we are not anarchists. If you want that, go to Zucotti park. And here’s a hint, even if there’s a law or regulation, some people will intentionally break it. There’s laws against murder, yet there’s still murder.

rbj on November 4, 2011 at 12:34 PM

Good thing the Obama Admin is remarkably scandal free or this could’ve been trouble for him.

Youngs98 on November 4, 2011 at 12:35 PM

That photo will be coming to an RNC ad near you.

Bishop on November 4, 2011 at 12:26 PM

No it won’t.

‘Cause they are crooks too.

tetriskid on November 4, 2011 at 12:36 PM

Too bad the OWS are so obtuse and lost to make the connection. Were it not so tragic it w/b almost fun to observe.

Schadenfreude on November 4, 2011 at 12:31 PM

At the risk of sounding all Beck n stuff… Obama is orchestrating this. These young, white, 20 somethings that were raised in the “everybody gets a trophy even if they suck” era of the 1990′s 2000′s? What do you do?

I’m thinking a good ole Grampa crackdown. You only get what you work for. You only get what you earn. I’m alarmed, but not afraid. I’m also armed and at the ready.

How do you think this is going to end?

Key West Reader on November 4, 2011 at 12:36 PM

Good thing the Obama Admin is remarkably scandal free or this could’ve been trouble for him.

Youngs98 on November 4, 2011 at 12:35 PM

Explain yourself.

Key West Reader on November 4, 2011 at 12:37 PM

No it won’t.

‘Cause they are crooks too.

tetriskid on November 4, 2011 at 12:36 PM

This.

I am fed up with both parties. Both are crooked.

Term limits on all senate and House seats is the only thing to fix this.

portlandon on November 4, 2011 at 12:38 PM

Corzine ad 2009 Obama “One Voice”

http://youtu.be/MA-eWdHdiRA

William Amos on November 4, 2011 at 12:39 PM

Term limits on all senate and House seats is the only thing to fix this.

portlandon on November 4, 2011 at 12:38 PM

How bout we repeal their $78k annual pensions. Lifetime health care. Life time spouse health care.

Earned, just by being elected.

Look it up. It’s true.

Key West Reader on November 4, 2011 at 12:40 PM

Explain yourself.

Key West Reader on November 4, 2011 at 12:37 PM

You didn’t know? Why, just the other day I saw an article explaining it in the MSM. You should keep up with the news more.

Youngs98 on November 4, 2011 at 12:41 PM

I knew there was a reason I didn’t go out and vote for that guy!
/Cousin Pookie

ted c on November 4, 2011 at 12:42 PM

This ad will be used agains Barack Hussein Obama in 2012.

Corzine lost. But even so? Corzine earned 500 Million dollars in depositor’s funds, bypassing the FDIC. Criminal.

A vote for Obama in 2012 is a vote for a continuing Criminal Congress.

CAIN 2012.

Key West Reader on November 4, 2011 at 12:44 PM

At the risk of sounding all Beck n stuff… Obama is orchestrating this. These young, white, 20 somethings that were raised in the “everybody gets a trophy even if they suck” era of the 1990′s 2000′s? What do you do?

I’ve actually always believed, even without Beck, that Obama orchestrates and promotes it all, as a diversion from his economic/ineptness woes, and as a tool, not only for re-election. Chaos is what his kind thrive on. It is a cover for their charlatanry and operations.

I’m thinking a good ole Grampa crackdown. You only get what you work for. You only get what you earn. I’m alarmed, but not afraid. I’m also armed and at the ready.

You bet, same here, in all regards.

How do you think this is going to end?

Key West Reader on November 4, 2011 at 12:36 PM

If only we knew. He’s agitating the world over, in the process not leading/elevating, but rather diminishing/destroying the U.S. and all she ever was/stood for.

If the people don’t revolt by voting him out, which is what I believe they will do, no matter the polls, then the pivot will tilt so dramtically that most hope will be lost. I give it one more year. Of course the rats on the other side feel his demise coming and are reacting.

I sympathize with your wish to “end it now” but no one will do anything against him, or if they attempt it, he’s total teflon. Never experienced any of this. It’s nearly incomprehensible.

Schadenfreude on November 4, 2011 at 12:44 PM

The New York Times reports today that Corzine pushed regulators away from a rule change that would have exposed MF Global’s risky and perhaps illegal business practices:

I’ve read this sentiment in other version of this same story and it really sets me off.

Corzine was beginning to get some scrutiny so he pushed back, and won. There is a pattern here.

GW Bush wanted to address some of the issues with Fannie Mae and Freddy Mac and the mortgage industry; democrats pushed back and won.
GW Bush wanted to address some of the actuary problems with social security; democrats pushed back and won.

The Federal Debt ceiling was being exceeded, and the GOP were going to demand some fiscal responsible budget cuts in exchange for raising that debt limit; democrats pushed back and won.

I could keep going…

Oakland Mayor Quan started getting tired of the Occupy Oakland protesters and wanted something done about it; the protesters pushed back, and Quan capitulated.

Obama’s year long effort to pass his health care policy was resisted by nearly everyone, even many democrats yet Obama’s radicals kept the pressure on and won the issue.

When ever the GOP challenges democrats on principle, policy, or tactics, the democrats push back and win because the GOP always backs down. The democrat party is willing to go to war over their demands, and the GOP won’t go that far.

Corzine might skate, might face legal penalties, but Obama is untouchable, his radical advisers are untouchable, the propagandists in the media are untouchable, the Occupy protesters believe themselves untouchable. So they will continue to do what they are doing until someone makes them pay a price they don’t want to pay and then all hell breaks loose.

Skandia Recluse on November 4, 2011 at 12:46 PM

Key West Reader on November 4, 2011 at 12:40 PM

They all should never be exempt from any laws they pass on us. It’s one of the most irritating and not covered in the media facts.

The people should put the pitchforks on them for this alone, from the left, to the right.

Schadenfreude on November 4, 2011 at 12:46 PM

rightistliberal on November 4, 2011 at 12:30 PM

Typical libtard response to all this crap. Deflect, deflect, deflect. It’s about political corruption, not regulation, you dolt. Obama has ANOTHER scandal. How many does it take for peoloe to see all the really BAD things this administration is doing?

HomeoftheBrave on November 4, 2011 at 12:47 PM

rightistliberal on November 4, 2011 at 12:24 PM

Obfuscate much?

The danger of the regulatory state is that it can decide who wins and loses… what it will regulate and how it will enforce regulation. Corzine was opposing regulations that would affect him, while supporting massive regulation against others.

Many of the regulations we have exist because of problems caused by other regulations. The oft-referenced Glass-Steagall Act which was created to limit speculation, also created the FDIC which simultaneously encouraged bad behavior because it guaranteed deposits.

Do you know how your bank invests its money? Very few of us do because it doesn’t matter, our accounts are guaranteed by tax dollars. So by intruding on the market and guaranteeing deposits, the feds eliminated natural market forces and they had to replace that with government-mandated forces… which are always subject to political whims and movements.

Do you support eliminating FDIC?

mankai on November 4, 2011 at 12:49 PM

I’d rate this fake scandal about an 6 on the cool name scale.

lorien1973 on November 4, 2011 at 12:51 PM

A vote for Obama in 2012 is a vote for a continuing Criminal Congress.

This is all you need.

lorien1973 on November 4, 2011 at 12:52 PM

Hmmm, I thought all regulations were bad!

I mean Jon Corzine was protesting against a new regulation. Don’t conservatives do that everyday?

rightistliberal on November 4, 2011 at 12:24 PM

I think there’s a slight difference between opposing new regulations; and using your clout with buddies to make sure regulations that affect you aren’t passed.

This is actually why regulations are a problem. Cuz people with influence (*cough* Corzine) use it to make sure they are exempt while those with less influence are punished.

lorien1973 on November 4, 2011 at 12:54 PM

Okay…but would you like more regulation for Wall Street?

rightistliberal on November 4, 2011 at 12:30 PM

No. I learned my Wall Street lesson during the Dot Bomb collapse. My money is now safely tucked away in the safest institution on the planet: The First Bank of Mattress.

I really don’t give damn what they do. I do give a damn about the taxpayer having to bail them out. That was just wrong. Let them fail. Have faith that after the big boys go down, the lesser boys won’t be so quick to dally in strange financial instruments.

It would have corrected itself. But now it can’t, and the distortion in the market caused by government intervention (regulation) will prevent it from correcting naturally. Fannie Mae and Freddie Mac have been legally bankrupt for about a decade now, and they have not changed their business model. Why do they still exist? Because the government keeps making up for their doomed business model. See “Frank-Dodd”

BobMbx on November 4, 2011 at 12:55 PM

I’d rate this fake scandal about an 6 on the cool name scale.

lorien1973 on November 4, 2011 at 12:51 PM

So MFGate isn’t doing it for you?

BobMbx on November 4, 2011 at 12:56 PM

Corrigate ?

William Amos on November 4, 2011 at 12:56 PM

This only helps Rusty Huntsman….

/

Seven Percent Solution on November 4, 2011 at 12:58 PM

Term limits on all senate and House seats is the only thing to fix this.

portlandon on November 4, 2011 at 12:38 PM

How bout we repeal their $78k annual pensions. Lifetime health care. Life time spouse health care.

Earned, just by being elected.

Look it up. It’s true.

Key West Reader on November 4, 2011 at 12:40 PM

How about an amendment that says no elected or appointed federal official shall receive a salary in any year where expenditures exceed revenue?

BobMbx on November 4, 2011 at 12:59 PM

They all should never be exempt from any laws they pass on us. It’s one of the most irritating and not covered in the media facts.

The people should put the pitchforks on them for this alone, from the left, to the right.

Schadenfreude on November 4, 2011 at 12:46 PM

We will not devolve. With the emergence of New Media we will prvail.

The ballot box is how we will continue to speak.

Best regards

Key West Reader on November 4, 2011 at 1:00 PM

So MFGate isn’t doing it for you?

BobMbx on November 4, 2011 at 12:56 PM

Not nearly as cool as the name for our “Fast and Furious” fake scandal.

lorien1973 on November 4, 2011 at 1:00 PM

How about an amendment that says no elected or appointed federal official shall receive a salary in any year where expenditures exceed revenue?

BobMbx on November 4, 2011 at 12:59 PM

Or benefits. And said officials shall not be eligible for the proceeding election or appointment period.

lorien1973 on November 4, 2011 at 1:01 PM

Not nearly as cool as the name for our “Fast and Furious” fake scandal.

lorien1973 on November 4, 2011 at 1:00 PM

Yeah, thats tough to compete with.

BTW, in case I missed it, would you hit Channing, the OWS chick who’s packing up and going home?

BobMbx on November 4, 2011 at 1:02 PM

How about an amendment that says no elected or appointed federal official shall receive a salary in any year where expenditures exceed revenue?

BobMbx on November 4, 2011 at 12:59 PM

If it were up to me, I’d strip them of their pants and coats and skirts, their bra’s and their shiny shoes and their botox.

They are nothing more than public servants, elected, not annointed. Like janitors. Or lunch ladies. That is what they ARE.

Key West Reader on November 4, 2011 at 1:02 PM

Saw this on CNN this morning. Do I need to tell you they NEVER mentioned his party affiliation?

CurtZHP on November 4, 2011 at 12:17 PM

But I bet they made sure to point out that Crooked Corzine is a prominent Obama supporter, adviser, and big-time bundler . . . right? They surely reported that, seeing as how they’re so independent and unbiased and all that . . . .

AZCoyote on November 4, 2011 at 1:03 PM

Key West Reader on November 4, 2011 at 1:02 PM

Not the bras. I’m not ready for Hillary without support.

BobMbx on November 4, 2011 at 1:04 PM

Would love to find out that most of the MF customers are dem donors.

Kissmygrits on November 4, 2011 at 1:04 PM

I’m thinking a good ole Grampa crackdown. You only get what you work for. You only get what you earn. I’m alarmed, but not afraid. I’m also armed and at the ready.

How do you think this is going to end?

Key West Reader on November 4, 2011 at 12:36 PM

I think we will get to the Grampa crackdown that you describe, ultimately, but I think we are going to have major violence and disruption before we get there. I do not have confidence that our political system will be stable through the 2012 elections, or through the following lame-duck presidency if Obama loses in 2012.

GaltBlvnAtty on November 4, 2011 at 1:05 PM

How about an amendment that says no elected or appointed federal official shall receive a salary in any year where expenditures exceed revenue?

BobMbx on November 4, 2011 at 12:59 PM
Or benefits. And said officials shall not be eligible for the proceeding election or appointment period.

lorien1973 on November 4, 2011 at 1:01 PM

Remember this fact:

They are no better than us. They use toilet paper, too.

That’s all we need to know when we see Nancy Pelosi and Harry Reid or John Boehner or Eric Cantor.

They are no better than who elects them.

Unless of course, you are a Clinton or a Michelle Obama.

Key West Reader on November 4, 2011 at 1:05 PM

The ballot box is how we will continue to speak.

Best regards

Key West Reader on November 4, 2011 at 1:00 PM

Cause that’s working out so well for us so far…

Remember that historic/landslide victory in 2010? Remember how it lead to sweeping spending reductions and dramatic first steps towards repealing Obamacare and undoing the damage done so far? Remember the stalwart conservatives we sent to DC to stand in the way of tax increases?

Yeah, neither do I.

Prediction: we’re going to send Romney and an even larger majority of Repubs to DC next year, and promptly be exceptionally disappointed that they don’t do any of this stuff either.

But hey, there’s always the next election after that one. And after that one – and the next one. Maybe someday, eh? But in the meantime, deficits of $1.5trillion plus per year adding to the national debt isn’t that bad – we can go on indefinitely like that, hoping the next election takes care of it, right?

Midas on November 4, 2011 at 1:06 PM

The ballot box is how we will continue to speak.

Best regards

Key West Reader on November 4, 2011 at 1:00 PM

May it be so, and best regards to you as well.

Schadenfreude on November 4, 2011 at 1:06 PM

I think we will get to the Grampa crackdown that you describe, ultimately, but I think we are going to have major violence and disruption before we get there. I do not have confidence that our political system will be stable through the 2012 elections, or through the following lame-duck presidency if Obama loses in 2012.

GaltBlvnAtty on November 4, 2011 at 1:05 PM

I’ve been contemplating this. I don’t think that we should be made to wait one year to allow our society to devolve in anticipation of elections.

I believe that the RNC needs to put out its front runner earlier than is normally expected.

I also believe that either Newt Gingrich or Herman Cain would have the credibility to do so. Both older men, well respected. We need to reach the youth; not through their Marxist indoctrinated minds and souls, but through their American Hearts.

Key West Reader on November 4, 2011 at 1:09 PM

Midas on November 4, 2011 at 1:06 PM

Midas? We’re trying to defeat 45 years of liberalism and Marxism. Can you give us a break? We had one election cycle.

There will be many more.

And contrary to Obama’s dreams of his ownself? Liberalism will be defeated and his dreams of Marxisms will be floated back to Europe in a dingy boat. But we must ensure that America remains the standard bearer of law, order, free and fair elections.

/Will Michelle Obama, Jesse Jackson, Reverend Wright, Al Sharpton and the entire cast of MSNBC all fit on one dingy? Hope Floats.

Key West Reader on November 4, 2011 at 1:13 PM

BTW, in case I missed it, would you hit Channing, the OWS chick who’s packing up and going home?

BobMbx on November 4, 2011 at 1:02 PM

Yeah, I think she’s pretty hot.

lorien1973 on November 4, 2011 at 1:13 PM

BTW, in case I missed it, would you hit Channing, the OWS chick who’s packing up and going home?

BobMbx on November 4, 2011 at 1:02 PM

lorien1973 would hit congresswoman De Lauro, with the light off :)

Just ribbing ya, lorien, for historical sake.

Schadenfreude on November 4, 2011 at 1:16 PM

Solyndra.

F&F.

Now, MF Global, and using influence to avoid regulation, while you rob clients dry.

You own it, Mr.Obama.

capejasmine on November 4, 2011 at 1:25 PM

More proof that OWS is organized from the agitators in chief.

Call it Occupy Criminal Court.

There were only nine takers when the DA’s office offered dismissal deals today to the first batch of Occupy Wall Street protesters getting arraigned on disorderly conduct charges.

The rest of those offered the deals — 55 protesters who were also arraigned on disorderly conduct charges — are insisting on going to trial.

An additional 14 protesters out of today’s batch — all of whom had been arrested during the Sept. 14th march to Union Square — missed their court dates altogether.

Schadenfreude on November 4, 2011 at 1:28 PM

Keep an eye on Cadian Capital Management. They managed to sell their entire stake in MF Global on Oct 27 and 28. Over 10M shares, grossing over $138M.

How did they know to sell everything?

BobMbx on November 4, 2011 at 1:28 PM

Here’s the SEC filing for Cadian Capital.

BobMbx on November 4, 2011 at 1:29 PM

We Can’t Wait Until Corzine is put in Hand Cuffs for his
Rip Offs, this man is Scum and should belong next to Bernnie in
a jail cell.

sharkman on November 4, 2011 at 1:32 PM

But wait! Corzine left MF without taking his severance package! This is what the MSM is emphasizing today. What a guy!

maryo on November 4, 2011 at 1:47 PM

More proof that OWS is organized from the agitators in chief.

Call it Occupy Criminal Court.

There were only nine takers when the DA’s office offered dismissal deals today to the first batch of Occupy Wall Street protesters getting arraigned on disorderly conduct charges.

The rest of those offered the deals — 55 protesters who were also arraigned on disorderly conduct charges — are insisting on going to trial.

An additional 14 protesters out of today’s batch — all of whom had been arrested during the Sept. 14th march to Union Square — missed their court dates altogether.

Schadenfreude on November 4, 2011 at 1:28 PM

Sounds like these idiots are hoping to “re-create ’68″ by re-staging the Chicago Seven trial.

teke184 on November 4, 2011 at 1:49 PM

Corzine ad 2009 Obama “One Voice”

http://youtu.be/MA-eWdHdiRA

William Amos on November 4, 2011 at 12:39 PM

Great find!

How long before that gets deleted?

Mr. Bingley on November 4, 2011 at 2:22 PM

Well, of course he did. That’s what “juice” is all about.

mojo on November 4, 2011 at 2:27 PM

Corzine ad 2009 Obama “One Voice”

http://youtu.be/MA-eWdHdiRA

William Amos on November 4, 2011 at 12:39 PM

Great find!

How long before that gets deleted?

Mr. Bingley on November 4, 2011 at 2:22 PM

I had a hard time watching this short ad all the way through. Obama is evil and he can rile up a crowd. There is, indeed, a bad moon rising.

GaltBlvnAtty on November 4, 2011 at 2:35 PM

Maybe Obama won’t come back from Europe.

ctmom on November 4, 2011 at 2:40 PM

and he can rile up a crowd. There is, indeed, a bad moon rising.

GaltBlvnAtty on November 4, 2011 at 2:35 PM

I believe his Mad Skillz in this regard have long since faded.

Mr. Bingley on November 4, 2011 at 2:40 PM

I believe his Mad Skillz in this regard have long since faded.

Mr. Bingley on November 4, 2011 at 2:40 PM

I hope you are correct.

GaltBlvnAtty on November 4, 2011 at 3:02 PM

What is the singular weakness found in Corzine, Obama, Holder, Reid, Pelosi, Wasserman-Schultz, the media, & the rest of the Democrats that everyone should focus on using against them?

Hubris.

This is another example of their own self-destruction.
They will always overreach.
They always get greedy.
They always get drunk with power.

This is where I believe Gingrich has the right approach – turn all of this back onto Obama’s face…
All.
Day.
Long.

Too bad the rest of the GOP, with the exception of Ryan, doesn’t seem to get this idea.

Danny on November 4, 2011 at 3:24 PM


Democratc Senator to Democratic Governor to Democratic rouge trader.
Jail his sorry ass

HAGGS99 on November 4, 2011 at 3:39 PM

Arrest Jon Corzine.

ernesto on November 4, 2011 at 4:20 PM